Vietnam has posted GDP growth of 5.05 per cent this year, according to the General Director of the General Statistics Office of Vietnam (GSO), Ms. Nguyen Thi Huong.

Growth in the fourth quarter was 6.72 per cent, higher than the 5.47 per cent recorded in the third quarter.

At a press conference in Hanoi on December 29, Ms. Huong said growth in 2023 failed to meet the annual target of 6.5 per cent but the result was nonetheless positive, with Vietnam being among economies posting the highest growth in the region and the world.

Data also shows that the macro-economy continued to be stabilized, inflation was properly brought under control, and the supply-demand of commodities was ensured, she added.

Of the total added value in the economy, the agriculture, forestry, and fisheries sector’s increased 3.83 per cent, contributing 8.84 per cent; industry and construction’s grew 3.74 per cent, contributing 28.87 per cent; and services’ surged 6.82 per cent, contributing 62.29 per cent.

Vietnam’s GDP is estimated at a total of $430 billion, according to Ms. Huong.

GDP per capita stands at some VND101.9 million ($4,284); a $160 increase against 2022.

Workplace productivity, meanwhile, was VND199.3 million ($8,380) per worker, a year-on-year rise of $274.